FP 100T Week 4 WileyPLUS Weekly Exam | eBooks | Education

FP 100T Week 4 WileyPLUS Weekly Exam

FP 100T Week 4 WileyPLUS Weekly Exam PLDZ-13147 Free
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FP 100T Week 4 WileyPLUS Weekly Exam

In this graded assignment, you are assessed on the content covered in this week's readings, activities, and assignments. To help you prepare, it is recommended that you first complete this week's Learning Path and Self-Test Learning Activities prior to completing this exam.

Complete the Week 4 Exam covering this week's assigned readings:

  •  "Chapter 10: Saving for Distant Goals: Retirement and Education Funding"
  •  "Chapter 11: The Fundamentals of Investing"

Note: Work submitted in WileyPLUS does not count toward attendance. Be sure to post at least two times each week in the online classroom to avoid being auto-dropped from the course.

 

Question 1

 Which of the following is NOT an income-driven repayment plan for federal student loans?

 

Income-based repayment

 

Pay as you Earn plan

 

Income deferment plan

 

Income-contingent plan

 

 

 

Question 2

 

If you are not working, you can apply with your loan servicer for which of the following to postpone monthly payments.

 

 

 

Forgiveness

 

Unemployment

 

Payment reduction

 

Deferment

 

 

 

Question 3

What type of loan starts accruing interest at the time of disbursement?

 

 

 

Subsidized

 

Pell

 

Unsubsidized

 

All federal loans

 

 

 

Question 4

  

 

 

  

Which of the following is the recommended guideline for the maximum amount to borrow in order to keep your monthly payments manageable?

 

 

 

Average salary for your chosen job

 

No more than household income

 

Average starting salary for your chosen job

 

Average starting salary for your chosen job times 1.25

 

 

 

Question 5

  

 

Your answer is correct.

  

The American Opportunity tax credit is a tax credit up to a maximum of

 

 

 

$500 for every eligible dependent who has incurred college expenses during the year.

 

 

$2,500 for every eligible dependent who has incurred college expenses during the year.

 

 

$2,000 per year for eligible college expenses incurred during a child’s first two years of college.

 

 

$1,500 per year for eligible expenses incurred during a child’s first two years of college.

 

 

 

 

Question 6

  

 

Your answer is correct.

  

________ are subject to regulations that resemble those of defined contribution plans offered by employers.

 

 

 

Traditional IRAs

 

 

Roth IRAs

 

 

Taxable accounts

 

 

Annuities

 

 

 

 

Question 7

  

 

Your answer is correct.

  

When comparing penalties for non qualified withdrawals on the Coverdell Education Savings Account and the two Section 529 plans, which of the following has/have a penalty of earnings subject to income tax plus a 10% penalty?

 

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